Portland Grain Review 06/27

June 27, 2017 Portland Price Trends 06-01-16 08-01-16 05-01-17 06-20-17 06-27-17 #1 SWW (bu) 5.35 4.95 4.87 5.08 5.10 White Club 5.35 4.95 5.02 5.18 5.20 DNS 14% 6.29 6.03 6.88 7.74 8.01 HRW 11.5% 5.41 5.10 5.36 5.67 5.50 #2 Corn (ton) 179.00 158.00 161.00 158.00 156.00 #2 Barley 145.00 135.00 125.00 127.00 127.00 Wheat...West coast wheat markets generally tagged along with gains in the futures complex in early week trade, as hard red spring wheat pierced the $8 mark. Basis levels on white wheat and hard red winter were mostly steady, pushing white wheat back to the $5.10 mark. Pricing interest at the farm level was noted in new crop positions, as January bids on white wheat moved to the $5.30 mark. Crop Progress...Warm and dry conditions proved favorable for the winter wheat crop across the Pacific Northwest last week. The three-state index climbed a point to 107% of average. Idaho was the big gainer, as ratings in the good to excellent category improved 9% to 78%. Oregon also posted a 5% jump to 81% with Washington up a point to 83%. Spring wheat ratings took a hit, however, with both Idaho and Washington good to excellent off 9% to respective rankings of 53% and 68%. Shipments..Weekly export inspections showed another solid week of U.S. wheat loadings, coming in at 23.1 mb to put total shipments at 83 mb and 32% ahead of a year ago. Top shipper for the week was hard red winter at 10.7 mb, followed by hard red spring at 5.4 mb. Soft white also recorded a big week with 5.6 mb. Top destinations off the PNW ports were Indonesia with 6.7 mb, followed by Japan with 2.6 mb and South Korea with 1.3 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.